Good news for Singaporeans dreaming of cherry blossoms, ramen, and onsen hot springs—your holiday to Japan is about to be more affordable than it’s been in years.
The Singapore dollar has hit a six-month high against the Japanese yen, climbing to 120.34. In plain English? Your SGD is buying more yen than ever before. That means cheaper accommodation, meals, shopping sprees in Shibuya, and more money left over for souvenirs.
As of 3:03pm on 20 November 2025, the Singapore dollar was trading at around S$1 = ¥120.628 before easing slightly afterwards.
Why Is This Happening?
Japan continues to maintain one of the lowest interest-rate settings among major economies.
While many countries have been raising interest rates to fight inflation, Japan is staying put (at least for now). The Bank of Japan is keeping rates super low, which means if you convert your Singapore dollars into yen, you’re getting more bang for your buck. A simply way to think of it this way: investors worldwide prefer putting their money where interest rates are higher (meaning better returns), so they’re shunning the yen. That drives its value down.
Meanwhile, Singapore has maintained stronger and more stable monetary policy, making the Singapore dollar look more attractive globally. Result? Our dollar wins.
Japan’s new leadership isn’t in a hurry to raise rates
Japan’s Prime Minister Sanae Takaichi has signalled that the central bank should take it slow on rate hikes. Her priority is boosting economic growth and raising salaries first. This means interest rates will likely stay low for a while longer, keeping the yen weak and your travel budget happy.
What Does This Mean for Your Wallet?
Image via jrkester, Flickr
Let’s put numbers to it. Over the past six months, the SGD has appreciated by 6.20% against the yen. That might not sound like much, but on a typical two-week Japan trip, it adds up.
Say you’re budgeting 500,000 yen for your trip. Six months ago, you might have needed around SGD 4,600. Today? You’re looking at closer to SGD 4,150. That’s roughly SGD 450 in your pocket—enough for several nice meals or a shopping haul in Harajuku.
For longer stays or bigger spenders, the savings are even more significant.
When Should You Book?
The yen has been weakening steadily, so if you’re thinking about a Japan trip, now is genuinely a good time. Currency markets are unpredictable, but the structural reasons for yen weakness—low interest rates and weak economic growth—aren’t going away anytime soon.
Of course, nothing’s guaranteed in currency markets. But the stars are aligned for Singaporean travellers right now.
Bottom Line
Whether you’re planning a spring break to Tokyo, a skiing trip to Hokkaido, or a food tour through Osaka, the timing is working in your favour. The Singapore dollar is strong, the yen is weak, and your Japan adventure just became significantly more affordable.
Time to start planning that itinerary.
